Self Employed Home Loans
Self-employed home loans, also known as "non-QM loans," are a type of mortgage designed for self-employed borrowers who may not meet the traditional lending requirements. These loans take into account a borrower's income, which may fluctuate and can be difficult to document. Self-employed home loans typically require a larger down payment and a higher credit score than traditional loans, but they offer more flexible qualification requirements.
Self-employed borrowers may also need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns. Overall, self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
Self Employed Loan Characteristics
1) Self-employed home loans are designed for borrowers who are self-employed or have irregular income
2) Self-employed home loans typically require a larger down payment and higher credit score than traditional loans
3) Borrowers may need to provide additional documentation to prove their income, such as bank statements, profit and loss statements, and tax returns
4) These loans offer more flexible qualification requirements than traditional loans
5) Self-employed home loans may have higher interest rates compared to traditional loans
6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property
7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
5) Self-employed home loans may have higher interest rates compared to traditional loans
6) These loans can be used for various purposes, including purchasing a primary residence, a vacation home, or an investment property
7) Self-employed home loans provide an option for entrepreneurs and freelancers to achieve homeownership, even if they don't meet the traditional lending requirements.
5559 S Sossaman Rd, Bldg 1, Ste 101
Mesa, AZ 85212
Copyright@2024 | NEXA Lending LLC
Company State LIcense # AZMB -0944059
Corporate NMLS# 1660690
Debra Hubka,
Mortgage Loan Originator
NMLS # 2722960
Debra Hubka provides mortgage guidance and loan origination services, assisting consumers with home purchase financing, refinancing, and real estate investment property loans through third-party lenders. Debra Hubka is an independent mortgage loan originator. Loans originated through NEXA Lending, LLC.
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